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GCA To Assess Turkmen Upgrade Of South Yolotan Reserves
...ted. He said it was necessary to “shoot as much seismic as possible both on the onshore and offshore sections of the block.” 3D seismic data will be acquired throughout 2011....
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Belarusian Imports Of Venezuelan Crude May Impact Russian Oil Exports to Europe
...ude to Belarus. Some 4mn tons would be delivered in 2010 and 10mn t/y during 2011-2012. Belarusian state firm Belarustransneft and Ukrainian transportation company UkrTransNafta later signed a 5mn t/y transit contract. This could impact supply to Europe, since Ukraine and Belarus have decided to re...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Vegas To Lower NW Gemsa Production For Water Injection Preparations
...ovide significant reserve and production additions in 2011,” partner Sea Dragon Energy said. Gross production from the 264 sq km concession was 9,500 b/d in September (MEES, 20 September). Vegas is operator on the acreage and holds a 50% interest, with partners Circle Oil (40%) and Sea Dragon (10...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
IMF Sees Volatile Oil Prices As Risk For Economic Growth In Iraq
...a modest increase in export volumes for the rest of the year, reducing the projected fiscal deficit to 14.2% from an initially anticipated 19.1%. Iraq: Selected Economic and Financial Indicators, 2007–12 2007 2008 2009 2010 2010 2011...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Gazprom In Talks With ACC International To Buy Into Med Ashdod Block
...ploration and drilling in 2011. Meetings between the two sides have taken place in both Israel and Moscow. The licenses that Gazprom are said to be interested in are estimated to hold gas reserves of 100 bcm....
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
New Jordanian Government To Pursue More Reforms
...mmur is part of the economic and financial team that overseas the IMF reforms. The new government is expected to continue with its drive to cut the budget deficit, estimated at JD1,060mn ($1,495mn) in 2011 (MEES, 15 November). ...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Lebanon Expects First Offshore Licensing Round Next October
...Middle East Economic Survey VOL. LIII No 48 29-Nov-2010 LEBANON/EAST MEDITERRANEAN Lebanon Expects First Offshore Licensing Round Next October Lebanon expects to launch its first round of offshore licensing bids in October 2011, the Lebanese Minister of Energy and Wa...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Gazprom And E.ON Score Exploration Successes With Sonatrach
...ock 19 drilling scheduled to start in February 2011. With both Algeria and Libya, Gazprom has signed memorandas of understanding regarding swaps (in Algeria’s case) and investment in third countries. Gazprom Libya has agreements with the Libyan Investment Authority (LIA) and also the Libyan Af...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Saudi Inflationary Pressures Expected To Ease in 4Q10, Says SAMA
...e situation will only deteriorate once Saudi banks return to higher levels of lending. “If Saudi lending goes back to normal, the inflationary pressures will become even worse” he added. With the weak dollar adding pressure, economists expect inflation in the kingdom to climb going into 2011, an...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Think-Tanks Say Intensified Violence In Sudan Could Cost Region Over $100Bn
...a high-conflict outcome, a scenario that would see growth remain 2.2% below IMF forecast levels from 2011 to 2024. Over a 25-year period, the projected loss in GDP would meanwhile range from between $118.4bn and $362.9bn. Such anticipated shortfalls would be mostly catalyzed by heavy damage to th...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Iraq And The Security Of Energy Supplies For Europe
...rridor and Iraq could become an energy bridge between the Middle East, the East Mediterranean and the EU. Finally, the first ever Joint Strategy Paper (JSP) for Iraq is a medium term plan covering 2011-13. The ‘Concept Note’ presents an outline of the JSP main guidelines, and the general focus of EU su...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Qatar Starts Up Latest LNG Mega-Train
...targas 7 starting up next year, the two 7.8mn tons/year LNG trains will help lift Qatar’s condensate output to 720,000 b/d in 2011. Their LNG output will further weaken prices and may help disconnect gas prices from oil in Asia-Pacific. Qatargas Train 6, (state-owned Qatar Petroleum 68.5%, Co...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Saudi Aramco Set To Implement Flagship Saudization Initiative
...astomers project decided to locate the venture entirely at Jubail (MEES, 19 October 2009). Meanwhile, construction tenders for the expansion of the Saudi Aramco/Sumitomo PETRORabigh petrochemical complex are expected to be launched in mid‐2011, with work to begin shortly afterwards. PETRORabigh Phase II...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
G20 Calls For Crackdown On $312Bn Energy Subsidy Bill
...ing experienced in the transport sector. Moreover, further analysis carried out by the IEA has shown that the phasing out of fossil fuel consumption subsidies over 2011-20 would be expected to reduce global energy related CO₂ emissions by 5.8% – equivalent to the current combined emissions of Ge...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
IEA Raises Global Oil Demand Forecast To 87.3Mn B/D In 2010, 88.5Mn B/D In 2011
...Middle East Economic Survey VOL. LIII No 47 22-Nov-2010 IEA Raises Global Oil Demand Forecast To 87.3Mn B/D In 2010, 88.5Mn B/D In 2011 The International Energy Agency (IEA) has fo...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Gazprom And BEH Establish South Stream JVC
...adimir Putin, who said that Bulgaria “would profit enormously” from the deal. Mr Putin also promised to review existing gas supply contracts with Sofia, which are set to expire in 2011 and 2012, in order “to further reduce the final cost for consumers.” Mr Borisov stressed the potential economic be...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Socar Sees Shah Deniz 2 Gas Agreements By Mid-2011
...ld a press conference in Baku on 13 November that gas purchase agreements for the second production phase of the Shah Deniz field are expected to be signed by the middle of 2011. Mr Abdullayev confirmed that Socar was also in talks with Turkey’s Botas for the export of 6 bcm/year from Shah Deniz 2, wh...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Egypt Lines Up Bidding For Dairut IPP
...dding requirements to the 10 companies it has pre-qualified for a tender to build its first thermal power plant, according to reports. The companies, short-listed from a group of 19 that applied to bid, are expected to submit their final offers in early 2011. The contract for the independent power pr...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
CBI Statistics Show 19.7% Fall In Oil And Gas Exports Revenue In 2009-10
...an will have to pay $11.621bn in 2010-11, to be followed by subsequent annual payments as per the table below: CBI Debt Repayment Schedule Year Debt Repayment ($Bn) 1389 (2010-11) 11.621 1390 (2011-12) 2.274 1391 (20...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Jordanian Government Outlines 2011-13 Development Priorities
...Middle East Economic Survey VOL. LIII No 47 22-Nov-2010 JORDAN Jordanian Government Outlines 2011-13 Development Priorities Jordan’s Ministry of Planning and International Co...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010